Between a rock and a hard place
Last night at dinner, I overheard a man say that the high price of gas was forcing him to start charging for his once free in-home repair estimates. Since I was eavesdropping, it didn’t seem appropriate to tell him that I thought he was making a huge mistake. I would never pay someone to give me a repair estimate—would you? Even if there are only a fraction of us who wouldn’t pay for an estimate, I am guessing that he can’t afford to lose that fraction of business. Don’t get me wrong, I understand where he is coming from; we are all trying to think of ways to better our situation. It just made me realize that there are a lot of financial situations where you are darned-if-you-do and darned-if-you-don’t. Here are a few financial catch 22s that come to mind.
- Being asked by a grown child to cosign a loan so that he can move out of your basement.
- Needing credit to prove that you are creditworthy enough to qualify for credit.
- Not being able to afford insurance.
- Cashing your long-term savings to solve a short-term need.
- Needing a car to get to work and work to afford a car.
- Being upside down on a house that you can’t afford to live in.
- Spending money in the hopes of making money.